8 Facts about Krsnaa Diagnostics before Applying for IPO
Krsnaa Diagnostics IPO opens on 04 August and will close for subscription on 06 August. The price band of the IPO is Rs 933-954.
Here are some of the interesting facts about Krsnaa Diagnostics are as follows:
1. The company provides quality and inclusive diagnostic services at affordable rates across various segments (radiology tests are priced 45% – 60% lower than market rates while pathology tests are 40% – 80% lower than market rates (Source: CRISIL Report).
2. Krsnaa Diagnostics operates one of India’s largest teleradiology reporting hubs in Pune that is able to process large volumes of X-rays, CT scans and MRI scans round the clock, 365 days a year, and allows them to serve patients in remote locations where diagnostic facilities are limited.
3. Krsnaa Diagnostics’ revenue from operations has increased at a CAGR of 38% from Rs 2,092.35mn in FY19 to Rs 3,964.56mn in FY21, while the EBITDA has increased at a CAGR of 30% during the same period, rising from Rs 630.02mn in FY19 to Rs 1,060.47mn in FY21.
4. In Fiscal 2019, 2020 and 2021, the company served 3.25 million, 5.27 million, and 5.18 million patients.
5. The Company focuses on and has the largest presence in the public-private partnership (“PPP”) diagnostics segment (Source: CRISIL Report). It has been awarded 38 contracts on a PPP basis as of June 30, 2021, & has 26 active collaborations in the private healthcare segment.
6. Krsnaa Diagnostics’ network of diagnostic centers spans 13 states across India and as of June 30, 2021, were present in over 1,800 locations.
7. The PPP segment of healthcare services is a large target market, representing a market opportunity of Rs 95 billion – Rs 100 billion in Fiscal 2021. Going forward, this market is expected to grow at a CAGR of between 14% and 17% between Fiscal 2021 and 2023 to reach Rs 125 billion and Rs 135 billion on the back of higher government spending in the PPP segment; Krsnaa Diagnostics has the largest presence in the diagnostic PPP segment (Source: CRISIL Report).
8. The company follows a hospital partnership model of operations which ensures captive customer, synergies in various costs as well as significant volumes that ensure the cost structure is efficient. The cost-efficient operations also help Krsnaa Diagnostics to bid at competitive prices thereby allowing them to convert more bids into projects. The Company has been awarded 77.59% of all tenders (by number) that they have bid for since inception.
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